The retail funds subadvised by Fuller & Thaler Asset Management is getting some competition. The San Mateo, California-based firm runs institutional assets using the "behavioral finance" theories developed by academics Russell Thaler and Richard Fuller. It also subadvises the two funds using the strategy for Undiscovered Managers. Now J.P. Morgan Chase & Co. is coming up with its own product.

JP Morgan recently filed paperwork with the SEC for the new fund, confirmed a spokesperson for the bank's asset management group. She declined further comments citing restrictions during the filing period. JP Morgan staff will advise the fund.

Morgan's decision to offer the fund came after the bank brought Andrew Spencer from its London affiliate last Fall. After being appointed chief investment officer for the US retail group in October, Spencer moved to New York City on December 1. He had headed of JPMorgan Fleming's European Equity group in London.

Spencer now oversees the bank's U.S. mutual fund products. He also has a strong background in behavioral finance that the bank plans to take advantage of with the new fund.&nbsp